Digital economy driving employment - Liminski views data security as a benefit
In a keynote speech at Dmexco in Cologne, North Rhine-Westphalia's Minister for Economic Affairs, Nathanael Liminski, called for a European restart of the digital single market. Minister Liminski emphasised the digital economy as the central engine for growth and jobs, and a potential source for innovation, new markets, and secure jobs.
The supercomputer "JUPITER" in Jülich, one of the most powerful worldwide, plays a crucial role in this digital drive. This powerful machine enables applications of artificial intelligence in medicine, climate research, and industry. Investments in necessary infrastructure like JUPITER can directly pay off in products, markets, and jobs, and strengthen the digital sovereignty of Europe, according to Minister Liminski.
Minister Liminski highlighted the importance of clear rules and smart regulation for achieving growth in the digital economy. He believes that growth cannot be achieved solely through new subsidies and public debt, but rather through fair competitive conditions and smart regulation.
Regulatory fragmentation in Europe is a concern for Minister Liminski, who warns it results in additional costs for goods and financial services. According to calculations by former ECB President Mario Draghi, fragmented rules result in 45% additional costs for goods and 110% for financial services. This regulatory fragmentation hampers the growth of the digital economy and the creation of new jobs.
Minister Liminski views data protection as a future competitive advantage for Europe, providing high standards for trust and standing out from other markets. Data protection is also seen as a potential locational advantage for the digital economy, with trust and data security being the foundation for stable business models in digital marketing, e-commerce, and the platform economy.
NRW sees itself as the host of Dmexco and a political driving force in the digital industry. The politician from North Rhine-Westphalia who called for accelerating the Digital Single Market in Europe at the DMEXCO was Hendrik Wüst, the Prime Minister of North Rhine-Westphalia.
Minister Liminski concluded his speech by urging Europe to complete the digital single market. He believes that a unified digital market will help Europe to compete on a global scale, create new opportunities, and secure jobs for the future.
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